Next year Henry will have no income, but for each dollar that he saves this year, he will
have 1 + r dollars available to spend. In terms of r, what fraction of his income should
Henry save this year so that next year the amount he was available to spend will be equal
to half the amount that he spends this year?
A. 1/r+2
B. 1/2r + 2
C. 1/3r + 2
D. 1/r +3
E. 1/2r + 3
have 1 + r dollars available to spend. In terms of r, what fraction of his income should
Henry save this year so that next year the amount he was available to spend will be equal
to half the amount that he spends this year?
A. 1/r+2
B. 1/2r + 2
C. 1/3r + 2
D. 1/r +3
E. 1/2r + 3
